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tv   Countdown to the Closing Bell  FOX Business  December 4, 2012 3:00pm-4:00pm EST

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liz: i am liz claman anddis the last hour of trading, if you don't own it you don't have coins made of it, it is affecting a bunch of different equities. the phrase faction fastening, smart money iivestors looking at too. it is the ultimate play, and the opposite today. and the 1700's on the floor. it is down $26 a unit.
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one school of thought, that is when the biggest trades were happening. the other uncertainty on a debt deal, questions about central banks and whether they did a coordinated thing but no information on that but there is talk of the. we will talk with nymex traders -- we will get to the bottom of it in a moment. there was an avalanche of selling in the entire metals complex. take a look at silver getting taken to the woodshed, down 3% giving gold -- nothing compared to the casino mentality in silver and platinum under pressure off by 2% but copper if we flip it over, copper bucking the down trend, it was up a few cents earlier, this is very much related to a healthy auto industry. copper gets its ph.d. in economics and if the economy is moving one way or another like china you might see copper moving lower but for the moment
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it needs to be that one area that sees a little strength. in terms of the broader market let's look at stocks would fall as a classes covered for you. it is a mixed bag. you can see microsoft straddling the flat wine. otherwise mcdonald's moving higher, banc of america, decent tech names like hewlett-packard flexing their muscles as well. hewlett-packard jumping 3%, $0.56, bottom fishing going on there, some of the story and until up nearly 2%, verizon and at&t are the weak links along with jpmorgan chase. traders at the stock exchange, cme group and nynex, gold traded as well, when gold dropped $26 overnight and continues through the day what was it like, floor? >> those guys were pretty busy today but $26 is not a huge move for $1,700 product. but clearly something is going
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on. liz: if it goes below $1,700 which is one of those levels gold bugs look at, that becomes a big deal. >> people have a love affair with round numbers. they get infected, $90 crude or $70 gold. they are just another number. gold is a strange party. we talked about a few times. i feel like it is overpriced based on this relationship to something like platinum where platinum traded well over bold and now is different but to see that the dollar is lower and gold is lower there are players who have issues or an agenda and there's a reason bold is lower. i am not privy to that. liz: if we were in tokyo we may have found out. elliott is right. talk about round numbers everyone looks at 13,000. at the moment we are some points below that. 69, the dow crossed the flat
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line, 69 times today alone. talk about indecisiveness, does this all fiscal cliff worries? >> it is a double-edged sword as far as the market. you can make a pretty good case for the fact that the market has come in here with all the uncertainty around the fiscal clef. if i were a betting man which i am not, i don't like to take risks but if i were a betting man i would bet the market is trending lower and under a lot of pressure because of the uncertainty generated around the fiscal cliff and the other side of that equation is folks will tell you and i have set a hundred times the markets don't lie and markets see something the financial press and the rest of us don't see because they hang in here. i don't understand it. we should be trading below, just like gold is puzzling. liz: interesting point. is puzzling, when you look at the intraday chart whether it is
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the dow or the and the crossing the flat line over and over why are the moves so shallow to the upside or downside. a couple points up and down and no real conviction on either side. does that happen next week? >> we are solidly in consolidation. markets and trying to make a decision but we have 4% rally from recent low so as far as the cliff is concerned i believe the market expects that it will be solved and there is not going to be an issue going forward and all we have now is a bunch of political posturing by john boehner and barack obama with the press. as we look at the market the market is holding up relatively well after a 4% rally and if you think of that we are still on the year and the market continues to go higher so i don't see any reason to believe there's not a deal in place. liz: is the fear of missing the rally now almost equal to the fear of getting crushed by the risk? >> i tell you what.
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anybody that has fear about missing the rally is a little misguided because all it takes is money to buy stocks and i would rather be late than right and early and wrong. >> i could not agree more. by high and sell high. you are not going to be the guy who buys it. liz: i caught the ball, you know. thank you so much for joining us on the floor show. a whole host of state leaders were at the white house talking to the president stressing the importance of getting a debt deal done before the end of the year. if the u.s. goes off of the fiscal cliff, their budgets, each of the state you live in would run amok especially the comes to funding everyday programs and running the entire state. last week during the governors on the edge series that is exactly what we addressed as we spoke with a number of state governors on this important issue. >> one thing we want to make sure people in washington understand is if all that is done is a cost shifting from the federal government to the state,
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it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will watch the governor's listen to the states. i think we can help him find compromise. liz: governor mark l. will be on neil cavuto tonight at 8:00 p.m. eastern. you cannot miss that interview. see what he has to say about today's trip to the white house. he does amazing interviews with these governors. you got to hear what he has to say. the fear of falling over the cliff real if you with a look at the chart of the fear index, you might not think so at all. it is incredibly low but market
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players and insiders are already making trades in advance of something aaron next guest says is about to get to the mix. let's get you in on this trade. the chief market strategist is here to help you do that. what do you see in your crystal ball going to happen next week? >> we only have ten dates to fix this fiscal cliff because congress officially leaves a week from friday. they only work until a week from friday so the market will start to get nervous that we don't have an agreement of we don't get it by next week so i expect to see volatility creep back into this otherwise selling market towards the middle of next week because we all know negotiating styles are such that you won't get a resolution to the last minute. markets are going to shoot one warning shot across the bout of congress and the president before all is said and done. liz: if you stretch this out a year this is unbelievably low so sure you are not saying traae the vix or by edfs that involved in the vix. what is the smart money doing
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right now? >> it is looking at two trade. if you want to own stocks and an end of the year protectors of that buying chief put options anticipating a pickup in volatility and not having to ride the volatility in your portfolio. the second strategy is to buy some cheap call options. as we go to the end of the year everybody expects one final rally once we get a decision. liz: december is traditionally a slow month as far as volume is concerned but in trading, the volume of the vix, trading has been unbelievably record-breaking for three month 0. that means the smart money is doing something. tell me why. >> if you have a portfolio and don't think you lead the volatility of the coming ten days and we had a steep market for a long time. if you are worried we fall off of the cliff, you want some protection, at the money or near
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the money, you own already, you are protecting the down side. simple strategy. tracy: did they need a certain expiration date? >> you want to get to the end of the weather is january, the you are your march, that is enough time to cover you but you want some protection and because the vix is cheap the implied volatility, price of these options is cheap. liz: i expecting the market to fall? >> absolutely. i expected to have a dip regardless because there's no way we will get a deal. liz: seems like you know what you are talking about, wednesday, thursday. you are at a tipping point. >> exactly. i got to believe it is tuesday or wednesday next week. december is boring. it is flat. there's no volatility. liz: except in the volume of the vix. >> the smart money wants that protection and you should trade alongside the. liz: how does the vix get -- >> long-term averages 20 which is amazing to think we are 17 -- liz: around 48 during the flash
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crash two years ago. >> at orca vix deal to get to 20 which is long run average but i for december. liz: any sectors you would buy? >> financials. i think we would get a snap back rally because we have to solve the fiscal cliff problem and markets are looking like a coiled spring and want to rise. liz: what you think of vix e. tee ats and all kinds of ways to play this? >> i stairway from those and encourage clients, they go after the similar stock options. liz: single stock options. you can if you make moves today make real money next week. good to see you. thank you for coming on. we try to bring you people who watch what the smart money is doing and help you follow that trade. the chief market strategist, closing bell ringing in 59 minutes. a big fish in the pension fund world, so? could practically call him a whale. steven leblanc ran the texas state teachers pension fund for years, $110 billion.
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and now he is in the private sector at a shop called capt. partners putting money to work in the lone star state. find out why he is comparing texas to china in a good way. he is in germany in terms of potential. steven leblanc talking texas in the next fox business exclusive you cannot afford to miss, what is he buying now? should you follow? i always wait until the lt minute.
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sing about ants in their pants. brushing for two minutes now, can save your child from severe toothain later. two minutes twice a day. they have the time. liz: casual dining getting crushed. bling dartmouth restaurants. does that ring a bell? how could it not? americana. a horrible into a picture. red lobster and olive garden and all you can eat bread sticks and unlimited salad and my favorite, the cheddar biscuits. if you own the stocks might take some pep the abysmal. the stock is getting eaten alive here. this is not a great picture as you can see. we were doing just fine and a big drop off today, what happened?
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9% after making the move to the market power mover, saying quarterly earnings would miss street estimates by a mile, 25% to $0.26 a share analysts were looking for $0.46 a share. the story is pricing and its impact on margins. the promotion didn't hit home with customers but they have when you start to look at one your chart, doing really well until october, not bad at all and then you see the fall but according to the ceo, rivals offered similar deals, not working but as i like to put things in perspective if you look at the five year picture that you bought five years ago they are still in money. one autoparts dollars causing the whole sector to fall today. nicole petallides is looking over at the stock exchange. nicole: a close look at autos zone. when we talk about autos zone and autoparts dealers we are seeing them coming under pressure so let's take a look at autos zone. in particular, they came out with revenue for the quarter and
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missed analysts' estimates again for the third time in a row so there noting they had fewer customers and something else they noted which was interesting, cited a warmer winter. why does that matter? it turns out where and tear on the vehicle land with a warm winter without snow and tough environment during the winter season people in need as many parts throughout this summer and the months following the winter season so as a result youths are seeing stock down 3% but had boys came out with some numbers and you're seeing these autoparts sailors under pressure. advance auto parts has been under pressure as well. those are the names we are watching. your customers, less demand for the parts. liz: thank you very much. $1 billion trade was par for the course from a next guest. for five years he was head, $10 billion pension fund named no. one in pension funds in 2010 and now he has made a move backed the private sector co founding his own company but only investing in a single
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state. so confident in his state he called the bid germany or china of the u.s.. he is the founding partner, steven leblanc. i find your situation so fascinating, you killed in the pension fund world and now it is like you switched sides because people use to come and sell you on their ideas so you would invest in them. now you are selling them on your it which is very much texas center. talk about what you are doing right now. >> thanks. appreciate the opportunity to come on. let me tell you more about my background. before i joined the are as i was the ceo of all time family summit properties. during my tenure if you invested year crew the 9/11 downturn. we sold the company in 2005 to camden property and the market was overvalued. at that with a couple years earlier in retrospect. i spent three years the teaching realistic at the university of texas and in fall of 2008 had a chance to give back.
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the teachers retirement system of texas $110 billion represents 1.3 million teachers and all the workers of the public school system. it is 5% of all texans paying money in a retired. i spent four years working for the chief investment officer, established five goals and said i thought it would take five use to get those goals done. the last being find my replacement. january of this year i said we have gotten everything done and it was time. in june i retired from teachers having 116 investments just shy of $30 billion and as you mentioned we were the number one performing plan in the country in 2010. liz: back to your roots in real estate you're going center when it comes to office buildings in texas. why? >> texas is the best state in the country. we have the financial strength of germany and low-cost production of china. you look at the gdp numbers, we in texas had 3.6% gdp this year and the department of labor
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projects average 5% over the next two years. that is twice the u.s. average. liz: when you look at pension funds, a lot of viewers have investments in them, many of them are struggling so when it comes to what you use to do when running teachers' retirement fund you went to private equity guys and you went to the fund managers and you said cut your fees. i am not dealing with this anymore. tell people, is there a threshold? is 1% too much? warren buffett think people pay too much in fees. >> i'm not going to disagree with warren buffett bought the structure especially in real estate more so than private equity is fair and equitable. the work i did with the institutional limited partner association, the pension fund real-estate assooiation was to increase governance, alignment of interest and transparency. having been a partner in a private company raising money for pension funds and having
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been a ceo who implemented sarbanes oxley i am a big proponent of transparency, governance and interest. that was the work we did to put together the private equity principles that are now standard in the industry. liz: tell me about real-estate and for the average investor who wants to getting is it a good idea to look at the states that are healthiest such as texas, with the unemployment rates lower than the national average because that must mean businesses they doing well and renting of this property. >> absolutely. you have two factor is going on. i think we are in tough economic times, fiscal cliff, the massive not only federal but state level debts at all-time high, the middle east crisis going on. p think will be tough sledding for a few years and tough for businesses to grow top line. they will focus on the bottom line ann expenses and texas can offer a great opportunity for them to have a lower cost of production and wages, lower cost
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of office space. also a situation where office construction is at a 50 year low so it is simple economics. increasing demand, limited supply, returns will be higher. liz: the traditional investor always looks at 60% stocks, 40% bonds. you said don't do that. look at alternative investments. there are better ways to get yields. >> i agree. especially if you're a long-term investor like a pension plan or individual with 401(k) or retirement accounts. if you have five years, you should look at liquid assets like private equity and real estate. many private equity firms are now starting to tap into individuals and giving them alternatives to invest whereas historically it has only been available to institutions. real-estate gives the individual great opportunity to invest in real-estate. i do think the best opportunity is in private real-estate and there is not public vehicle for individual vehicle for individuals to invest in we will
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be doing. liz: next time you're in new york will you see as? we love your perspective. >> thanks. i would be honored. liz: steven leblanc. >> have a good christmas. liz: thank you so much. founding partner and really puts a lot of high feed people out there, so good for him. closing bell ringing in 37 minutes. we will be right back.
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liz: night capital is not sold the vultures are eyeing their carcasses that the new management will sell off. story continues that you have a big twist here now. charlie: this is interesting. sources tell the fox business network matter who buys night capital, between $3 and $3 and $3.20 a share, or $3.50, who buys it? they're likely to sell one of
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the big pieces which is a brokerage called hot spot. sources tell the fox business network that the nasdaq of all places, is eyeing that potential to potentially by hot spot, once the deal gets done. nobody is reporting it. [talking over each other] they may buy it anyway if they don't sell. if they don't sell, they will sell parts of it, but if they -ell, the likelihood that verto will take out parts of knight is very real. management on both sides discussed that. obviously, they want one of the major parts. half the firm, the most profitable part. >> it matters because trades they make go through these brokers. >> well, here's the thing. first of all, you know, we cover wall street, that's number one, but, two, if you're an average person, and you buy or sell a
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stock, knight will touch your stock in some ways. they match buyers and sellers of retail order flow. you know, order flow from ameritrade and e-trade. they are the biggest firm of that. their business is big out there. this is what we know. the nasdaq, the second largest stock market special idahoing in technology, and nasdaq and management talked about buying this once this deal is done. how much, i can't tell you. i don't have a good feel, but i know nasdaq is looking to bite it, fits within its business model, and the thing of the exchanges, pointing out nasdaq and the new york stock exchange, people own the stock, important story, but it's hard for them to grow through acquisitions. doing acquisitions has been knocked down by regulators. new york stock exchange couldn't buy because of the european
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regulators. >> it's down, and nasdaq up nearly a percent. >> interesting. they could not do the bid because of hostile regulators so they do purchases around the core, and buying this hot spot fx, and ecn, a market maker for foreign exchange, and it's a market maker that does it electronically. that's what nasdaq would like to have. it fits in the model. nasdaq is a market that matches buyers and sellers with stock through the computer system. guys on the floor and computers on the floor. that's why nasdaq is interested. very much in the business model. iim sure a lot will be interested, but nasdaq realliments it. -- really wants it. they know what to do to build out around the core. remember? they can't do big deals. this could make money for them.
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i'll tell you this, knight has been trying to build the business up over the last year or at least the last six months, i know for a fact, for preparations they would sell out. earlier today, vertu, a bidder on knight, saying not that they are in talks with the privatety equity firm, but, knight executives and they are in, financing from them, just about it is a done deal. verbally told they got the financing of $200 million. what's that executives say. that's a big plus for vertu executives says that against getgo because they need financing for the deal. the knight board last week, what we reportedded last week, both sides were told to go back and get financing. my view is that vertu is too
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cocky in this. here's why. they make it counted like they got it won and that there's not great management, vesters want their all cash bid. you know, when you talk like that, you know what? you maybe think your bid is not strong. getgo has assets, them and their adviser, jefferies, controlling 38% of the company; right? they own that stock. remember? they bailed out knight. >> i remember. >> this is a bog fight, but that's the latest of what i know. >> nasdaq may jump in. >> post deal. >> thank you very much. closing bell ringing, he breaks the news. 27 minutes before the closing bell rings. tune into pan dorer, single -- panpandora, single ticker similr "p," and did you know half the stock is held short. a loot of people betting it goes done. potential catalysts.
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are you listening? you can't afford to miss it. ♪
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>> it's been a seesaw day in wall street as investors are hyperfocused on washington and the negotiations the dow up 10, nasdaq and s&p slightly lower. shares of liberty media, though, tumbling on news that netflix had a multiyear catalog deal with disney. the concern is that the partnership negative impacts liberty media's cable channel, stars. netflix will be the subscription
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television service for live, action, and animated films. u.s. banks posted the best quarterly performance in six years. the fdic report banks posted a combined profit of more than $37.5 billion in the third quarter. that's a 6.6% increase from the same time last year. the number of banks on the agency's problem list also fell by 38 institutions down to $694. now we continue our countdown to the closing bill with liz claman. ♪ >> am i the only one who doesn't have a pandora account? half the population has an account. dennis kneale is matters if you are an active listener. dennis: i'm concerned with what investors think. it's a volatile stock. takesssuch a wild ride in response to whatever it does. now, it's expected to put up
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huge growth and sales today, but it won't start making money until it can pay less for the music it plays. pandora pays out half of the revenue for performance fees. last year, paid $3 million to songs, for drake, $3 million for lil' wayne raps, and cold play, so how much did old-fashion radio pay in performance fees for the same artists? zilch. radio doesn't pay at all. that's why wall street prepares for plunging profits in pandora. sales up 56% over a year ago a quarter, $217 million paying out half the revenue last year in performance fees. net income could drop 40% to $2 million. earnings could be down more than 50%. the stock could react wildly if it meets or fails the expectations. stock up 4% today in anticipation, and last quarter,
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popped 12% after earnings. the stock is down 50% since going public in june of last year. what is the problem? well, for one thing, apple enters the market, be afraid, pandora, very afraid. the sums they have to pay for the music is uses, rates set by federal law. last year, took in $275 million, and paid out $137, and satellite radio pays 7% revenue, not 50%. pandora pushing congress to slash the fees, artists oppose, and it's going nowwere. they have a cliff to worry about. liz: we do. we talked to the founder of the company who is the chairman, and he said it's about the playlist. i asked about apple. you can see when apple telegraphed to the market or somebody did they would get into the business. he says stick with the playlist. we're the best.
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dennis: how can regular radio pay nothing and pandora pays 50%? they have to stop that, it's penalizing the internet and new technology. liz: a compromise. don't miss it. full fof -- coverage in less than 20 minutes. check out "after the bell" for the latest numbers and analysts. half the float of this stock is shorted. if the numbers are great, stock moves up, they're a lot of tears on wall street for the shorts. they will be crushed. okay. dow jones industrials, lost track. 74 times the dow crossed the flat line. sandra smith has today's big movers, some dow components, a flat take, so to speak, up and down by inches. tell comes are weak? >> a two-point gain for the dow. in and out of positive territory throughout the session. it's been a volatile day as fiscal talks in washington3 continue, but we're posting a
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small gain in the session nonetheless. nasdaq and s&p in the negative. the dow, leading the way at this moment, hewlitt-packard technology. nasdaq out performed theemajor averages so far this year. hewlitt-packard, a technology stock, a dow component very strong, and, also, the biggest loser here, verizon, a lagger there pulling the other direction for the dow. other movers we're watching in the commodities, oil prices falling today. right across the board, gold prices, one of the biggest losers, dropped out of the gate this morning, down more than a percent, down $23 below that $1700 mark. certainly, everybody watching that. definitely movers in the stock market. restaurants early in the show, big lots, retailers making headlines here today. vail resorts, this is an interesting one, guys, smaller
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company, but down 8% today. look at a weather forecast for vail lately? no snow, and, in fact, liz, it's spring-like temperatures out there. vail resort had a first quarter loss warning about a slow start to the ski season. moderating a panel out there in a few days, and i looked at the weather, and it's not ski temperature. liz: i know somebody who went for the trip, and no snow. >> none. it's unfortunate. they are trying to make a business. you never know, could pick up january and february. liz: sandra, thank you. >> thank you. liz: yesterday, i kidnapped peter barnes in washington, d.c.? i was there to be honored by jewish international women to watch awards -- [applause] i kidnapped them, kind enough to come, our boss there as well, and, oh, yeah, and peter barnes, our washington correspondent. our dc bureau, they all came,
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everybody. it was great. they helped me celebrate the award hop norring top jewish women in business and philanthropy, and there was no -- [inaudible] >> congratulations. [applause] >> 16 minutes before the closing bell rings, the dow making a go of it, but red, how will it end? stay tuned. ♪
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liz: everyone's upping the dividend policy. companies reviewing them talking about the fiscal cliff, and
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there's a special end of year payment, protecting investors from paying higher taxes in january. a short time ago, management investment firm unvailed a special dividend of a dollar a share in addition to regular quarter dividend, and then there's oracle paying dividends for the next three quarters early. the software company shells out a total of 18 cents a share on december 21st, and, by the way, that's a nearly $200 million payout to the ceo larry ellison, not bad. may be an investor's jackpot, but the stock jumped after announcing there's a $2.75 share on top of the quarterly dividend of 25 crepts a -- cents a share. let's be sure here, it's not just the shareholders, but the executives get payout because they own the stock, obviously, but everybody is there when it's there money. the major averages, nothing wrong with that, but the major
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averages, that's what you look at, barely moving today, but what's find out what levels traders watching with the move. joining me now, bobby heller from on point executions. pulledded him off the floor right here to our data wizard, and let's pick up on the s&p because that's what traders look at. what do you see and looking at as far as levels are concernedded. >> we broke through a 200 day moving averages last week with the great up days everybody's talking about to kind of a round number, and we're there's a bias to continue the uptrend, and people who are afraid with the fiscal cliff negotiations or nonnegotiations. there's bumps up and down, today, back and forth cross
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zero 70 or 80 times. >> especially when you look, the dow, a picture of how many times this stock has moved just across the flat line. it's just unbelievable. it's really quite stunning there, because when ou look at, @%ll, you know it's not working. i don't know if we can effectuate that. >> people are uncertain or they are certain, and that the market's in balance right now. i don't know. it's happy news, somewhat balanced. >> there's u.s. dollar weakness lately, you know, the dollar index, for example, and then there's the uup. look at those things, and you see that something's up with the dollar, and not just against the euro, which has been strong, but other opportunities as well. >> right. the dollar falling against the euro bothered me personally a little bit. i'll be in spain next month. i wanted to get good rates, but also, you know, we see commodities being a problem, but, at the same time, the dollar is corroborated making
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people look and say, like, what's going on, bigger at play, a guest earlier talk about today, you know, somebody had something in mine here so a lot of times it's hard to tell where the ideas are coming from, but -- liz: uup, how the dollar trades against a basket of stocks, and what matters to you here when you look at the numbers? i mean if you see what's happening, this the bottoming out there, but when you look at what's happening, i get a sense that with the uup, if you put out what time level do you want? a three month for example? >> a three month, we see that we made a lot of gains against the euro earlier in the summer, and, now, you know, in the way gold was all over the place, but now, i guess, people are looking for end of the year plays. uncertainties, still, i think with all of these long term gapes. liz: bobby, you look at names as hedges. now, for example, you talked about proctor and gamble, what is it about them that you really
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feel is something investors should look at at the moment. >> right. it's a consumer staple that looks like a safety play. i mean, when things are -- should sell things in sufficient economic times, but proctor, in particular, had a hard time getting cross $70. the last few months, it's up there, not gone through. customers wonderinn how it can lock in the money i made. liz: the 70 level, can't ggt there. >> not dumping, but looking to hedge it, maybe by doing collars, buying puts to protect a down move, but, lso, selling some upside cause to help finance that transaction. liz: do you think the market's going down in the next couple weeks? >> there's going to be some really jerky down moves, but i think it's a slight upward trend the rest was year, just depends on, you know, the posturing with the fiscal cliff. liz: bobby, the dough crossed
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another time. >> another time. liz: it's down again. >> what's the record on that? liz: we'll find out. bobby heller from on point execution. thank you so much. >> thank you. liz: six minutes to go. stay tuned. "closing bell" coming right up. arned the only t a holiday dl o camp out. you know we've been open all night. is this trick to get my spot? [ le announcer ] break from the holiday stress. save on ground shippg at fedex office.
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she also likes to ride her bike. she knows the potential for makingr losing money can pop up anytime. that's whyhe trades with the leader in mobile trading. so she's always ready to take aion,
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no matter how wily... or weird... or wonderfully the market's behaving... which isn't rket science. it's just t common sense. from td ameritre. liz: here we go, two minutes before the closing bell, let's go tony -- tomy -- nicole. stocks seeing a bit of a bump ahead of results with a ton of shorts biting their nails over this one. >> it's an interesting one. pandora's a winner, and the question is whether or not they increase the revenue. people are betting yes. david: i'm david asman, there's nicole. netflix, seeing a big pop today. they signed a deal with disney.
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apparently, investors think it's profitable. >> it is a big deal here because what you can do is they will exclusively distribute disney movies through television in 20 # 16 when the current deal expires with stars channel. it's a big deal. liz: what happened with gap, and there were comments from analysts, we know that, but this is a stock that's done just beautifully over the past year or so, and, today, it took that. >> we saw over a hundred companies rushing to pay dividends, but the gap is passing on the payout to the shareholder, and they are wondering why. david: nicole, talk about apple, continued the lide today, looking for reasons why because -t started early. i was on with varney, and there was a company, about which i don't know a lot, but had a rating, a price target of $400. is that one of the thin

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